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ESDS Software Solution shares surge over 10% to new highs after IPO
The stock has jumped from its ₹429 IPO price to above ₹1,560 within five sessions, delivering about 264% gains for IPO allottees.
ESDS Software Solution shares extended their post-IPO rally, rising 10% to ₹1,560.35 per share on the BSE on Thursday, September 10, after opening at ₹1,525. In the prior session, the stock also hit its 10% upper circuit, following two consecutive days of 20% upper circuits.
The surge has taken the stock from its ₹429 IPO price to above ₹1,560 in just five trading sessions, leaving IPO applicants with gains of around 264%. On the NSE, the shares were listed at ₹757 on September 4, a 76.46% premium to the IPO issue price, while on the BSE the stock opened at ₹746.30, a 73.96% premium.
On the listing day itself, Friday, September 4, the stock climbed around 112%. Analysts cited by LiveMint Markets pointed to a strong growth and AI infrastructure narrative behind the demand, but warned the rapid run-up has set very high expectations and could increase near-term volatility.
LiveMint Markets reports that the IPO drew exceptionally strong interest, with the issue subscribed 135.88 times by the final day of bidding. Analysts said valuations look stretched on trailing results and that any disappointment in utilization, margins, or deal conversion could trigger sharp corrections as the stock digests the rally.